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  1. #1 Oil Slips More Than $9 a Barrel in 2-Days , lowest level in nearly two weeks! 
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    Oil Slips More Than $9 a Barrel in 2-Days ,It was the lowest level in nearly two weeks!

    NEW YORK (CNNMoney.com) -- Oil prices extended a post-July 4th descent Tuesday - falling more than $9 a barrel over two days - as Iran's president downplayed concerns about possible war in the Middle East and investors anticipated falling demand due to high gasoline prices. The price of light sweet crude for August delivery tumbled $5.33 to settle at $136.04 a barrel on the New York Mercantile Exchange. It was the lowest level in nearly two weeks, and followed a drop of $3.92 Monday. Iran:Concerns over supply disruptions in the oil-rich Middle East eased after Iranian president Mahmoud Ahmadinejad said...

    http://money.cnn.com/2008/07/08/mark...ion=2008070815
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  2. #2  
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    As the dollar strengthens, oil prices decrease. What a surprise! :D
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  3. #3  
    Senior Member LogansPapa's Avatar
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    Quote Originally Posted by Cold Warrior View Post
    As the dollar strengthens, oil prices decrease. What a surprise! :D
    Yep ;)
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
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  4. #4  
    Goldwater
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    Quote Originally Posted by Cold Warrior View Post
    As the dollar strengthens, oil prices decrease. What a surprise! :D
    Without interest rates going up, it'll still be the same.
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    Quote Originally Posted by Goldwater View Post
    Without interest rates going up, it'll still be the same.
    Agreed, this is simply a bump since the financial community is convinced interest rates won't be going down any further. Now, if the fed would signal a raise of say 1/2 point, the dollar would break the 1.50 barrier. Of course, it might have some negative effects on liquidity and credit! :D
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  6. #6  
    John
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    Well, as much as I don't like the Federal Reserve I think I like this Congress even less. While Congress has busied themselves with investigations and shoveling blame around, the Fed is at least working on both the problem and developing safeguards against this sort of thing in the future. I have no confidence that the solution the Fed comes up with will be optimal, or even adequate, but it will be a hell of a lot more effective than playing the blame game.
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  7. #7  
    Senior Member Molon Labe's Avatar
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    Quote Originally Posted by John View Post
    Well, as much as I don't like the Federal Reserve I think I like this Congress even less. While Congress has busied themselves with investigations and shoveling blame around, the Fed is at least working on both the problem and developing safeguards against this sort of thing in the future. I have no confidence that the solution the Fed comes up with will be optimal, or even adequate, but it will be a hell of a lot more effective than playing the blame game.
    So glad to see so many in one thread that actually understand the economic situation.
    And even though the Fed will probably take us in exactly the wrong direction....Most of the incumbant congress is too busy playing election 08' to even read most of the economic legislation they vote on.
    I see Congress as responsible for things such as the war deboggle and the economic crisis as much as any blame one can lay at the foot of Bush.
    Lest we forget what the current Congress' mandate was in 06'. Ending the war. Well....this congress has no intention of changing any course...including economic.
    Gun Control: The theory that a woman found dead in an alley, raped and strangled with her panty hose, is somehow morally superior to a woman explaining to police how her attacker got that fatal bullet wound - Unknown


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